Saturday, December 31, 2011
Oil price to end 2011 near $100 a barrel - BusinessWeek
The price of oil will finish 2011 about 8 percent higher, after concerns about tighter global supplies dominated energy markets throughout the year.
Benchmark crude, which on Friday fell 30 cents to $99.35 per barrel in New York, started the year at $91.38 per barrel. Prices surged in February as unrest in Libya cut off 1.5 million barrels of oil exports. After a summertime slump, they rose to $100 per barrel following threats from Iran to close key shipping lanes in the Persian Gulf.
via businessweek.com
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